Looking ahead at week 33 and reviewing week 32
Review week 32Result:
Brent Oil 2R
Short USDCAD: +0,6R
Short USDJPY: -0,1R
|USDCAD - Daily|
|USDCAD - Weekly|
|USDJPY - Daily|
|USDJPY - Weekly|
Brent Oil kumo break trade
|Brent Oil - Kumo break long 2R|
This was kind of a kumo break trade. As price broke out of the kumo on the 19th it closed below a S&R level. It than reversed to the flat kumo top further ahead where an indecision candle formed right on the 20 EMA and the kumo. I entered at a break higher of a significant level (see chart). I placed a stop just below the indecision candle and targeted 2R just before the resistance level of 112,00. There was one retest of the flat kumo and then price just continued climbing. The overall Ichimoku picture was looking very bullish.
|Brent Oil - overall Ichimoku picture|
Brent Oil now deserves a pull back as price has moved away from the mean quite a bit. Last Friday formed a bullish pinbar suggesting another move up is well possible. However I rather buy from the mean. As you can see my two trades on Gold and SPX500 past week (see charts below) were entered way off of the mean. So although the PA signals on those trades were there, price did reverse (first) to the mean stopping me out in the process.
|SPX500 - entry|
|SPX500 - Stopped|
|Gold - Entry|
|Gold - Stopped|
If you want to learn more on Ichimoku trading, then you can find more links to resources on the links page. This week I got an email from the Ichimoku Trade website as they were offering a free E-book. I finished reading it and I must say it is vere comprehensive, yet consise. All the basics you need to know are explained. If you are looking for some advanced strategies to add to your arsenal, then you could consider Chris Capre's Advanced Ichimoku course (I am a student) or make some inquiries about the educational offers at IchimokuTrade.com.
Looking at week 33
Long: AUDUSD, Brent Oil
Short: USDJPY, USDCAD, EURGBP, EURJPY
Note: Brent Oil needs pull back
Kiwi and Gold almost on level to consider longs.
Economic calendar week 33A lot of high impact events mainly for the EURUSD. I'll expect some fireworks there. I'll be keeping an eye on Monday's JPY and Fridays CAD related news events as I have some open trades on these pairs.